Quick House Sales – Approach With Caution

Although quick house sale firms are approached with a lot of caution, they are very handy when you want to sell your property fast. This is because there has been concern about homeowners being misled and lose out financially by companies that promise to buy the house only to reduce the price at the last minute. In some cases, some of these companies will not offer clear fee structures or even make false valuations.
Sell-My-House-FastFor starters, quick house firms offer to buy your house of even identify a third party buyer within a short term for cash payment. However, the price is usually discounted usually 75% while the company pockets the rest hence, not the same as the actual market value.
Generally, these companies will sell your property within a matter of days. As such, a quick house sale is ideal if you are looking to raise cash quickly or push through a hurried sale to clear debts, avoid repossession or get around issues that are making it difficult to sell property such as areas that have a high risk of flooding.
There are numerous things you need to do before deciding to sell your property through quick house sale companies. Here are the some of the important things you need to consider:
Carry out an independent valuation – You will do well to do your own valuation so that you have an idea of the amount of money you can expect from the sale. Besides, you can compare your valuation to the survey done by the company and be able to question how they arrived at the price they are offering. Even asking a local handyman to give his expert opinion on any repairs that may need doing is a good idea where to start.
Compare different quick house sale companies – You may also want to compare different quick house sale companies so that you have an understanding of what they are offering.
Check that the company is registered – The other important thing you need to do is find out about the company’s credentials. For instance their membership to professional bodies such as the Ombudsman services and The Property Ombudsman. Should the company claim to have signed up to a code of practice or an official body regulates them, then you need to check and confirm.
Negotiate – If you do not like the terms under which the quick house sale company is making an offer, do not shy away from negotiating the terms or even the price. Remember, you may be doing this to solve an issue fast so you need to ensure you go for the best possible offer.
Have everything in writing – It is important to avoid verbal acceptances, instead ensure that everything you agree on with the quick sale company is in writing. This is a great way of safeguarding your interests. Besides, it can be a point of reference in case of disputes.
Get an independent legal advisor – Avoid making a rushed decision. Instead, you will do well to engage an independent legal adviser that will help you understand the contract terms that you are agreeing to as well as clarify anything that may not be clear.
Beware of long tie-ins – You need to keep in mind that the reason you are opting for a quick house sale is to be able to dispose of the property within a short time for cash. As such, you do not want to sign up for an agreement that ties you to the company for a long period because you might as well sold the property through an estate agent.
Be honest – While the temptation to give false information may be strong, you need to ensure you provide accurate information. In addition, be sure not to leave out important information that affects the status of the house and the price significantly.
Avoid committing to early – Although you may be desperate to sell your property quickly, you need to avoid the temptation to sign the agreement until every stage has be cleared conclusively.
Quick house companies offer the much needed relief when you want to sell your property within a short time. However, you need to take time to take a number of factors into account before committing to the sale agreement.

7 questions to ask a quick sale agent

Information is one of the best ways to be empowered. Thus, when engaging a quick house sale company, it is critical to ensure that you have all information you need. It is also important to ensure you understand everything. Here are some of the questions you must ask the quick house sale company to make sure you have accurate information to make the final decision:

1.       Is the company buying the house themselves or are they transacting on behalf of a third party buyer?

2.      If the company is buying, how to they intend to pay for the house? In the case of a cash payment, you need to go further and ask for proof because a genuine cash buyer will not hesitate to furnish you with this information.

3.         If there is a third party buyer, you need to find out who they are as well as the guarantees they can give in terms of whether the buyer has cash available or how fast the sale can happen.

4.         Who is conducting valuation of the property and how are they doing it?

5.       What are the timescales for your sale, what are the various stages you should expect, when is each expected to happen and what might cause the timescales to slip?

6.        What are the possible causes of price changes and when might this happen? In addition, is the offer conditional? That is it subject to a survey and contract or anything else?

7.        What charges and fees will you be required to pay for instance lawyers and survey fees? What are the fees and charges in the event that you fail to complete the sale?

Once you have all the answers to these questions, you need to draw a conclusion and make the decision on whether you will carry on with the quick house sale company or move on to the next one.

Top 5 Secrets for a Quick House Sale

sell+house+fast_333If you are looking forward to selling your property fast, you will do well to move away from the traditional route and opting for a quick house sale. You will do well to start with seeking advice from companies that specialize in buying houses for sale. This ways, you are able to avoid the pain of having to pay solicitors and estate agents huge sums of money in fees. Furthermore, you will also not be at their mercy. Here are some top secrets to your quick house sale:

  • Determine how fast you would like to sell the property – In most instances, quick house sale companies will seal the deal in just about four weeks. You can even have the property sold in a lesser time span. All you need to do is inform the company so that they are able to make arrangements for a quick sale of your property. If you are opting for the quick sale due to the urgency of your relocation or you simply need to access money urgently, be sure to discuss this with the company so that they can arrange for a fast purchase accordingly.
  • Determine the minimum amount you are willing to accept for your property – You need to realize that selling your property through a company will not get you the amount that you would get when dealing with an estate agent. Therefore, be sure to take note of the value of property within the area where your property is located. You can also go on and carry out a free property valuation online and draw a comparison between the two prices. Thereafter, make a decision on the minimal amount that you are willing to accept. Do not forget to take into account the fact that you will be saving on various other aspects.
  • Get talking with quick sale companies – You will do well to move away from communicating with the quick sale companies online and going to them to have a talk. This gives you an opportunity to discuss your priorities with them so that they have an idea of how they can approach the sale. Moreover, you are also able to get an insight into their procedures as well as clarify on the possibility of using your own solicitor to check the contract terms. Lastly, engaging the quick sale company lets you determine the nature of commitment that is expected of your from the company.
  • Meet the agent – In most cases, quick house sale companies will send an agent to carry out an inspection of the property. This will be preceded by an accurate and fair quote of the value of your property. For you the seller, meeting the agent gives you an opportunity to have all your questions answered.
  • Agree to the sale – Once a valuation of your property has been done, you have discussed with the quick house sale agent and an offer has been made. It is now upon you to decide whether you will agree to the sale or not. You will need to find out if there are any hidden or additional costs that you will incur. At this point, you will do well to get your solicitor to help you check the contract before you can go ahead and sign it.

No matter the reason you have decided to sell your property through a quick house sale, it is important to ensure that you pay attention to every step of the process so as to get the best deal possible. Remember, every single party involved has their own interests hence if you are not keen, you might be taken advantage of.

The Role of Solicitors in a Quick House Sale

A quick house sale is a mode of disposing of property that lets property owners dispose of property fast while being to save money in the process. In most cases, property owners opt for a quick house sale owing to difficulties they are going through that include divorce, relocation and being in debt among others. Owing to the legal implications involved, the process usually involved solicitors. So then what is their role in a quick house sale?

First, you need to understand that any quick house sale transaction will involve at least two independent solicitors especially where cash payment is involved. That is, there will be a solicitor representing the seller and another one acting on behalf of the buyer of the property.

Secondly, these solicitors will take up the role of legal representatives for the property ownership transaction. Mainly, they will work on the terms of the exchange of the home. The end result is seeing to it that one party gets a deal on the property in question while the company is able to buy it within a reasonable time and at a good price.

You need to understand that the terms may be altered until a deal is reached. This is done with the view of being able to accommodate the two parties at the center of the transaction while ensuring that they each get a good deal on the property they are buying/selling. Thus, it is important for the solicitors to ensure that the two parties are well accommodated as this also makes the transaction easier.

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Unlike the traditional sale where there would be a series of reviews of the property to ensure that is it ideal for sell, solicitors will usually not ask for searches on property in a quick house sale. This is deemed an advantage of the quick house sale because the seller does not have to deal with having many visitors on the property during the sale process.

Solicitors are also responsible for generating and overseeing the signing of contracts that are used for the quick house sale. In fact, the contracts are exchanged between the two solicitors representing the buyer and the seller during which a completion data is used. The completion date usually entails collection of keys to the property by the buyer while the seller gets money for the property. This date is usually determined by the solicitors acting on behalf of the buyer and seller.

One of the valuable features about solicitors in the quick house sale is that they are usually free for the seller. That is, the seller is at liberty to work with the solicitor that has been engaged by the company that is buying the property. However, this is not mandatory hence you can also opt to have a solicitor that is independent to handle your transactions and have them covered for some hundred pounds being the cost of their services.

Overall, solicitors are important in any quick house sale transaction as they will help in overseeing a smooth transition of property ownership from the seller to the buyer while ensuring that both parties are satisfied with the deal.

Top two Benefits of Valuation

Valuation is one of the important aspects that come into consideration when buying or selling property. This is because through valuation, buyers as well as sellers are able to understand how much the property is worth before accepting offers from potential sellers or buyers. In some instances, it is the location is given more weight when estimating the value of property thus making the importance of carrying out a valuation more obvious. So then, what are the advantages of getting a property valuation done?

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Advantages of Valuation

Apart from being able to tell how much your property is worth, here are two major advantages of understanding valuation:

 

  • To get the best bargain if you are a buyer

If you are looking to buy property, it is important that you understand the real worth in order to be sure that in the end you will settle for the best bargain. Thus, you will need to establish how much the property you are interested in can fetch in the market to be sure that you are investing your money in the right place.

Secondly, in the cases where you are seeking to financing through a mortgage or bank loan in order to facilitate the purchase of the property, your lender will request to see an appraisal report from property valuation experts. With this, they can then determine whether you can sell your property for a minimum of the loan amount that you are seeking. Consequently, lack of a valid report could mean that the lending institution will not heed to your request for financing.

  • To Fetch the most amount possible for you as a seller

Valuation is a crucial step when selling property as you need to know how much you can ask for from potential buyers. In fact, without this information you might end up giving your property away at a throw away price. Remember, buyers are always looking for the best bargain thus if you are not well informed on the market value of your property then it is highly likely that you may close a deal only to end up losing out especially when you sell to an informed buyer who has already done an independent valuation of the property you are disposing of.

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Ultimately, whether you are buying or selling property knowing its worth is the key to finding the best deal and there is no better way to find out the market value than through a valuation. Even then, you will do well to get a reputable property valuation professional to determine how much your property is worth. Be sure to stay clear of unscrupulous valuers who may give you misleading information that could result in losses.

Alternatively, you may also carry out a quick valuation using the online valuation tools that are on offer from different property valuers who have an online presence. However, the only challenge with this is that you may not receive documentation that you can use as an official document especially when seeking to be financed.